Blister Packaging Market size Flourish with an Impressive CAGR during 2028
A recent market intelligence report that is published by Data Insights Partner on the global Blister Packaging Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Blister Packaging Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Blister Packaging Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Blister Packaging Market is offered. In accordance with the report, the global Blister Packaging Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Blister Packaging is a sort of bubble packaging. Blister Packs are referred to as a sealed product placed in a cavity that comprises of a paper film or aluminum backing. This product is mainly used in packaging small goods from the food and pharmaceutical industries. Owing to its durability, transparency and the tamper proof properties, blister packaging are gaining momentum. This packaging products are mainly utilized by the end use sector like food and beverage sector and the pharmaceutical industry.
Market Drivers
The initial impetus to the blister packaging is provided by its widespread application in the pharmaceutical industry. This kind of packaging provides convenience in handling, adaptability, high protectivity and insulation from outdoor and external environments like temperature, moisture, gas and light and many more. These factors are primarily driving the blister packaging market.
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The rising incidence of suffering from diseases, changing consumer lifestyles and its impact for the growth of the chronic lifestyle diseases and soaring geriatric population is driving the need for medication and thereby this market. Moreover, the benefits of utilizing these packages by the consumers and patients is a determining factor. Owing to the adoption of unit packaging mode, the possibility of wrong intakes or skipping intakes of medicine can be done away with which is fueling the growth of this market.
The rigid directives of the government aimed at combating the possibility of forging drugs is powering the growth of this market. This generates the need for unique packaging facilities that are difficult to copy. Anti-counterfeiting systems including banknote authentication systems among others are offered by way of blistering packaging. The necessity to maintain product integrity is bolstering the growth of the blister packaging market.
The Covid-19 pandemic has accelerated the growth of this market. The no-contact form of health management and the growth of OCT drug have positively influenced the growth of the blister packaging market.
The craze for personal care products in developed countries and also the rapid craze for such products in developing nations are charging up the growth of this market.
Market Restraints
The gaining importance of pre-fillable syringes is threatening the market growth of the blister packaging market. The former consists of pre-measured dosage which lowers the probability of dosage error. The cut-throat competition in between the products which is parallel to the competition faced from parental flexible solutions are taking a toll on the blister packaging market.
The rigid regulations of the international organizations and the hard and fast directives of the local regulatory bodies is disrupting the trade, import and export of this products which is hindering the market prospects.
This packaging products are usually made out of plastics. The stringent regulations of the government for plastic deployment coupled with the sustainable programs for environmental conservation is hampering the growth of this market.
Blister packages are not suitable for the packaging of heavy materials which is cutting down its application and threatening the growth of this market.
Opportunities
Although the employment of plastic is hindering the market growth, technological advancement has led to the deployment of bioplastics in blister packaging. This is aimed towards sustainable packaging concerns which is expected to provide lucrative opportunities to this market.
Further, prosperous end use sector namely, the personal care sector and the pharmaceutical industry is expected to thrive and grow because it is indispensable part of the human civilization which is likely to create better market for tube packaging in the coming years.
Trends
At present North America dominates the market for blister packaging and is expected to continue its domination in the forecast period. This is attributable to the presence of some of the dominant pharmaceutical companies and beauty products company and food and beverage industry in this region. Europe is also estimated to witness significant growth owing to the global significance of the healthcare and pharmaceutical industry of Europe, the initiative of environmental conservation and the ongoing investment in this region is expected to bolster the market for blister packaging. Globally, the blister packaging market is projected to grow at a CAGR of 6.18% in the forecast period.
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Segment Covered:
This market intelligence report on the global Blister Packaging Market encompasses market segments based on product type, technology, material type, end use and country.
By Product Type the global Blister Packaging Market has been divided into:
q Clamshell
q Carded
By Technology the global Blister Packaging Market has been divided into:
q Cold Forming
q Thermoforming
By Material Type the global Blister Packaging Market has been divided into:
q Aluminium
q Paper & Paper Board
q Plastic Films
q Others
By End Use the global Blister Packaging Market has been divided into:
q Food
q Industrial Goods
q Consumer Goods
q Healthcare
By country/region, the global Blister Packaging Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Amcor PLC
q Probiotec
q Constantia Flexible
q Honeywell International
q Westrock Company
q Klockner Pentaplast Group
q The Dow Chemical Company
q Sonoco Products Company
q Bemis Company Inc
q Display Pack Inc
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Blister Packaging Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
Amcor PLC
In January 2020, Amcor collaborated with Moda with the aim of offering innovative packaging solutions. In the market of flexible packaging, such collaboration would strengthen the position of Amcor.
Probiotec
In July 2019, ABS Pty Ltd was acquired by Probiotec aimed at the expansion of manufacturing capabilities. This acquisition is also aimed towards the broadening of the company’s footing in the pharmaceutical industry.
Constantia Flexible
In January 2019, Flexible Blister was launched by Constantia Flexible. This product provided better barrier protection owing to blister packaging films on either side.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Blister Packaging Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Blister Packaging Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Blister Packaging caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Blister Packaging Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Blister Packaging Market
v Identification of key factors driving investment opportunities in the Blister Packaging Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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